Techstorm connects inventors with entrepreneurs

Apr. 18, 2012

Distinguished Professor of Mechanical Engineering Ron Miles stands before a slide presenting his miniature microphone during the TECHSTORM event held at Binghamton University's new Science and Engineering Building on Wednesday afternoon. / CASEY STAFF/ Staff Photo

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It's taken years to develop the low-noise, directional microphones, originally inspired by Cornell research into the hearing of a species of fly.

Tests have proven the tiny devices improve the performance of hearing aids by reducing background noise -- a boon for wearers who have trouble understanding speech in noisy environments.

"We've done the research. It works," said Miles, a Binghamton University professor of mechanical engineering. "It's available. I would like to see someone take it and run."

Miles had the chance to make his pitch Wednesday at Techstorm, which seeks to match university inventors with entrepreneurs who will help take new technologies to the marketplace. The event drew about 70 presenters and entrepreneurs to the Innovative Technologies Complex. Entrepreneurs came from the Washington, D.C., area, Boston and New York City, as well as from the region.

While universities like to see the technologies they develop turn into spin-off companies, the inventors often don't have the business experience to do so themselves, said Techstorm founder Gerard Eldering. And many times, faculty members simply have no interest in running companies.

"They love their day job," said Eugene Krentsel, BU's assistant vice president for entrepreneurship and innovative partnerships.

Often, it takes an entrepreneur to transform an idea and a plan into a thriving business. Wednesday's event brought the entrepreneurs to the door of the academics with the ideas.

Enter Lori Beer of Senior Management Associates, based in Vienna, Va. Beer has dealt with the startup of 25 companies since 1968. The companies he's worked with run the gamut, from defense and engineering to an entertainment center and even a Catholic religious order in Iowa.

"I'm in the business of running companies," he said.

To be picked up by an entrepreneur like Beer, the product has to be in a market that's growing and have "a potential to be big," he said. Management -- not just funding -- is key. If a startup has good management, it's likely to do well.

While most entrepreneurs are good at the technology of their product or process, they often need help on the business side, he said. They can become "enamored" of their project -- perhaps understandable, but an obstacle when it comes to facing the realities of bringing a product to market.

Techstorm kicked off last year, with an event at George Mason University. Of the 27 universities that attended, at least 10 were working out deals, Eldering said.

Among them is BU, which also attended the Virginia event. Krentsel wouldn't disclose details on any prospective startup, noting that the matter was still in the discussion phase.

Eldering's firm, InnovateTech Ventures, does consulting work to bridge the gap between university research and the business end. So far, 15 startups have resulted, he said.

"It's not easy, but it works," he said.

'Speed-dating' for dollars

In an upstairs conference room, inventors and businessmen were engaged in a courtship -- a type of speed dating, organizers said. Inventors had five minutes to pitch their ideas and network with potential investors.

"One minute left!" Eldering called, looking at the countdown on his smartphone. As the time ran out, the entrepreneurs switched tables.

Researchers had another chance to connect with afternoon presentations. In addition to Miles, BU had four other scientists making their pitch at the event.

David Davies' biofilm dispersion technique can be used for treatment of infectious diseases, hygiene and medical devices, as well as industrial processes. Mohammed Younis' "smart switch" can detect changes in mass, speed or temperature, with prospective uses ranging from detecting dangerous materials such as anthrax to identifying stress on bridges.

Ken McLeod's micro-environmental heating system adapts the temperature to individuals in a room, rather than heating all spaces equally. Lijun Yin's man-machine interface allows computers to detect the user's face, gaze and gestures to "understand" what the user wants it to do.

Researchers from the SUNY College of Environmental Science and Forestry, SUNY Fredonia, the SUNY College of Optometry, the University at Albany, the University at Buffalo and Upstate Medical presented their projects as well. Their projects ranged from various medical techniques to tracking flight data and a new way to produce biodiesel.

Miles' microphones caught the eye of New Jersey-based entrepreneur Mike Levin, who sold his business -- Media Sciences, which manufactures supplies for color printers -- 18 months ago. The miniature microphones, he said, address a recognizable problem: the hearing aids needed by an aging population.

Levin learned about Techstorm three weeks ago and attended to look for new opportunities. What he's looking for: a product to manufacture, with the possibility of developing a recognizable brand.

"In my heart, I'm a start-up guy," Levin said. "This is what I love to do."